Davis Polk advised Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC as joint bookrunners of a registered public offering by Kodiak Oil & Gas Corp. of 48,300,000 shares of Kodiak’s common stock (which included the full exercise of the over-allotment option). The net proceeds from the offering totaled approximately $356 million. Kodiak intends to use the net proceeds from its common stock offering, together with other sources of liquidity, to finance a previously announced acquisition of oil and gas properties, to repay all of the outstanding debt under its existing credit facilities, to fund capital expenditures for drilling, development and infrastructure and for general corporate purposes, including financing the potential acquisition of other oil and gas properties.

Kodiak Oil & Gas Corp. is a Denver-based independent energy exploration and development company focused on exploring for, developing and producing oil and natural gas in the Williston and Green River Basins in the U.S. Rocky Mountains. 

The Davis Polk corporate team included partner Richard D. Truesdell Jr., counsel Jeff Ramsay and associates Gregory C. Scott and Mhairi C. Immermann (not yet admitted). Partner Jason Kyrwood and associate Jonathan B. Brown provided credit advice. The tax team included partner Samuel Dimon and associate Changsheng (Eric) Song. Counsel Betty M. Huber and associate Jesse Kramer provided environmental advice. Kristyn M. Dunleavy was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.